While we don’t know much yet about Space Marine 3, Saber did confirm that it would contain a campaign and a multiplayer mode. The end of Space Marine 2 was set up nicely for a sequel; protagonist Titus eventually stands triumphant over Chaos and Tyranids alike, and goes off on an unspecified mission with the Ultramarines Chapter Master Marneus Calgar. Titus also found the time to engage in a suicide mission against Chaos cultists in an installment of the Secret Level anthology produced by Amazon.
The first two Space Marine games begin with an alien threat (Orks and Tyranids) before the surprise reveal of a Chaos Space Marine antagonist (The Chosen of Nemeroth, the Thousand Sons) and an ultimate confrontation. It’s far too early to predict who might show up to cause trouble in Space Marine 3, but the end of Space Marine 2 had some very interesting Necron technology that could potentially signal their arrival in the series.