In the film -- which serves as a follow-up to the 1986 fighter pilot drama Top Gun, which also established Cruise as an A-lister and viable action star -- the 57-year-old actor reprises his role as Pete "Maverick" Mitchell, who has moved on from being a hotshot fighter ace and now works as an U.S. Navy flight instructor.
The trailer teases Maverick's return to flight school, with his commanding officer singing his praises to the new recruits.
"Your instructor's one of the finest pilots this program's ever produced," he says. "His exploits are legendary. What he has to teach you may very well mean the difference between life and death."
"I have to admit, I wasn't expecting an invitation back," Maverick says.
"They're called orders, Maverick," the officer corrects.
In between epic flights, action-filled moments, and intense drama, fans also get a peek at two of the new recruits Maverick's set to train, played by Miles Teller and Glen Powell.
As seen in the first trailer, which Cruise premiered at the San Diego Comic-Con in July, one of the film's underlying themes will be the juxtaposition between Maverick as part of the establishment, teaching the new, cocky fighter pilots, who mirror his own character in his youth.
This timeless old vs. new dichotomy also plays a big role in the movie's newest poster -- which Paramount released on Sunday morning -- showing Cruise's Maverick leaning on the side of an older-model propeller plane as he gazes up at two high-tech fighter jets streaking through the air.