Trump has espoused interest in a third term, but that's highly unlikely given the current state and direction of the American economy — which is generally speaking the most accurate predictor of whether an incumbent president will be re-elected — never mind the statutory term limits imposed by the 22nd Amendment.
If Trump were to attempt to serve past January 20, 2029, he'll need to either amend the US Constitution, or postpone the presidential election due to be held on November 7, 2028.
However, Trump lacks the requisite political capital to accomplish the former, and isn't even remotely popular enough with the guys with the guns (i.e. military, federal, state & local law enforcement) to pull off the latter, on top of the structural hurdles impeding such a coup.
Moreover, the donor class — beyond arguably those totally, if not solely aligned with the Israel Lobby — lacks incentives for keeping Trump in office, especially given the trouble he makes and the hoops they'll have to jump through to grant him a third term.
To be completely candid, the American system of democracy has obviously grown increasingly fragile and dysfunctional in recent years: sooner or later they'll hit a blue screen.
However, we're not quite there yet. At a minimum, elites continue to recognize the need to maintain the trappings of democracy for the sake of political legitimacy. Granted, the indisputable start of WW3 could alter that calculus, but not much else.
Granted, the presidential election of 2029 might turn out to be more political theater than democratic competition, but there'll be a Republican candidate and a Democrat candidate. Every good show has to have a hero and a villain, or a protagonist and an antagonist.
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