If you still feel the need for speed, Paramount Pictures has good news for you – "Top Gun 3" is officially happening, with Tom Cruise back as daring pilot Pete "Maverick" Mitchell.

The announcement came Thursday at the studio's showcase at CinemaCon, an annual weeklong summit at which Hollywood studios present their biggest upcoming movies to theater owners and press.

Paramount film co-head Josh Greenstein said "Top Gun 3" was "officially in development with a script well underway," adding that Cruise would reunite with producer Jerry Bruckheimer on the project.

The original 1986 film helped propel Cruise to superstardom, and the 2022 sequel earned $1.5 billion worldwide.

Legendary director Steven Spielberg publicly credited Cruise with helping to get moviegoers back into theaters after the COVID-19 pandemic with the long-awaited sequel.

Cruise was not present at the presentation, but did narrate a film used to open the event, which focused on the studio's commitment to releasing films on the big screen.

At the end, Cruise - sitting atop the water tower on the studio's lot - says, "The future looks great from here."

Paramount Skydance chief David Ellison told attendees that the studio would guarantee a 45-day theatrical release window for its films before moving them to streaming platforms.

"Once we combine with Warner Brothers, we're going to make a minimum of 30 films annually," Ellison said in a pledge to theater owners. "Long live the movies."

Paramount has launched a massive $111 billion bid to take over Warner Bros, topping a rival bid from Netflix.

But many in Hollywood fear the mega-merger will lead to cuts that will forever change the film industry.

Also on Paramount's upcoming slate is a film adaptation of the popular video game "Call of Duty," due in theaters in June 2028.

Attendees also saw early footage from "Heart of the Beast," a thriller starring Brad Pitt as a military veteran who must survive a plane crash in Alaska with his combat dog.

And Johnny Depp showed up to offer a preview of "Ebenezer: A Christmas Carol," the latest adaptation of the classic Charles Dickens tale, in which he plays the grumpy Scrooge.

CinemaCon continues later Thursday with Disney's presentation.