According to rumors, the third volume in the Dead Space franchise will run on the Frostbite Engine 2. This engine already took care of the graphics of Battlefield 3 and Need for Speed​​: The Run.

At the CVs of different Dead Space developers at Visceral Games (the creators of Dead Space 1 and 2) a new unannounced title appeared. Because Electronic Arts has already announced there will be a Dead Space 3, Visceral Games is most likely to be working on Dead Space 3 at this time. The game is said to run on the Frostbite 2 Engine.

If this is indeed the case, it would be the fourth game in development that’s using the new graphics engine of Battlefield developer DICE. Earlier if Battlefield 3 and Need for Speed​​: The Run and the recently announced Command & Conquer: Generals 2 will run on the graphics engine.
 

Isaac Clarke, the protagonist of the Dead Space franchise, would suffer from schizophrenia, and has two personalities. As you can expect in a game, that is a good and a bad personality. Furthermore, the game is played on an ice planet. When Dead Space 3 will be released, is not yet known.