"Top Gun 3" is in its early stages at Paramount, with a script currently being developed.
Tom Cruise is expected to reprise his role in the new installment, following the success of "Top Gun: Maverick"..
The producers and director from "Top Gun: Maverick", including Jerry Bruckheimer and Joseph Kosinski, are likely to reunite for this sequel.
Miles Teller and Glen Powell, who appeared in "Top Gun: Maverick", might also return for the third film.
Ehren Kruger, who co-wrote "Top Gun: Maverick", is working on the initial draft of the script for "Top Gun 3".
Tom Cruise is concurrently working on "Mission: Impossible 8" and an action movie set in space with director Doug Liman.
In an ambitious move, Tom Cruise plans to be the "first civilian to do a spacewalk" outside the International Space Station for his space-themed film.
"Top Gun: Maverick" was a major hit, grossing nearly $1.5 billion worldwide, making it the most lucrative film of Cruise's career.
"Top Gun: Maverick" received six Oscar nominations, winning one Academy Award for sound.
Concurrently, Cruise has signed a non-exclusive deal with Warner Bros. Discovery to develop and produce theatrical films.