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What we know about Apple's iPad Air 3

An attendee inspects new iPad Air 2 during an Apple special event on October 16, 2014 in Cupertino, California. The next generation iPad Air 3 is reported to be coming in March 2016.

Justin Sullivan/Getty Images

Apple is expected to lift the curtain on the new iPad Air 3 come March. But what can consumers expect? From the tech industry rumor mill, it appears likely we'll see design and size changes along with new features coming to the tablet. On top of this, the new iPhone 5se is expected to take its bow at the same Apple announcement event.

It's been a long wait -- in Apple years -- since an update to the iPad Air has hit store shelves. The most recent version, the iPad Air 2 debuted all the way back in October 2014, prompting many tech watchers to be on the lookout for a new version, CNET reports.

According to the tech blog 9to5Mac, it looks like the Apple event will take place the week of March 14.

This latest iPad update is expected to have a rear-facing LED flash in order to take better pictures in low light. For those who want their 9.7-inch iPad Airs to rival the sound quality of the larger iPad Pro, there may be additional speaker grilles to match the Pro's audio quality. Additionally, sources told 9to5Mac that Apple has been testing out versions that would be compatible with Apple Pencil, the stylus tool that was introduced with the iPad Pro last fall.

The other obvious upgraded feature would be the current iOS 9 operating system. An eventual iOS 9.3 upgrade is currently being beta-tested by developers. The device would also work with the iOS 10 that is down the line. The newer iOS will reportedly include Night Shift, a feature that changes the display screen light color at night for those who like to read their tablets in bed before sleep.

Another question on consumers' minds is how powerful will the device be? It is unknown whether it will have the iPad Pro's A9X chip processor, the iPhone 6S A9 chip, or something else entirely, according to CNET.

Price is also up in the Air (pun intended), but it is considered likely that the device will fall in line with the price range attached to the current iPad Air 2. The current version of the iPad Air 2 runs from $499 to $829 on Apple's website, depending on the amount of storage and which Wi-Fi or cellular options you choose.

Follow coverage of the Apple 2016 event at CBSNews.com and on CBSN.

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    Brian Mastroianni covers science and technology for CBSNews.com