* First-quarter revenue rises 5 pct to $4.4 bln vs est. $4.3 bln
* Profit up 23 pct at $199 mln
* Raises 2014 forecast to $17.4-$17.7 bln vs est $17.5 bln (Adds 2014 outlook, details about first-quarter results, background)
April 29 (Reuters) - Auto parts supplier TRW Automotive Holdings Corp reported better-than-expected quarterly results, driven by a 16 percent rise in sales in China, and the company also raised its full-year revenue forecast.
TRW said it now expects full-year revenue to range between $17.4 billion and $17.7 billion, higher than its earlier forecast of $17.3-$17.6 billion.
Analysts on average were expecting revenue of $17.5 billion, according to Thomson Reuters I/B/E/S.
Livonia, Michigan-based TRW, whose largest customer is Volkswagen, said it expects vehicle production volumes to expand in China.
The Livonia, Michigan-based company makes airbags, electronics, braking and steering equipment for cars globally and sells its products to nearly all major carmakers including Ford and General Motors. In 2013, about 41 percent of its total revenue came from Europe.
TRW's profit in the first quarter ended March 28 rose to $199 million, or $1.68 per share, from $162 million, or $1.29 per share, a year earlier.
Revenue rose 5 percent to $4.4 billion.
Excluding items, the company earned $1.81 per share.
Analysts on average had expected earnings of $1.65 per share on revenue of $4.3 billion.
Shares of TRW have gained 10 percent since January. They had closed at $81.39 on the New York Stock Exchange on Monday. (Reporting by Rohit T. K. in Bangalore; Editing by Maju Samuel)