There are rumors that Ultraman 2016 is Ultraman Orb & his human form is Gai Kurenai. Kurenai means Crimson in Japanese. His Henshin Item is rumored to be Orb Ring.
There are rumors that the name of Ultraman Series 2016 is "Ultraman Orb". The series will be announced soon either in the mid-April or in the end. Tsuburaya will register the trademarks for the series soon probably around April 7 & will know the actual name of the series.