  We study the feasibility of a new generation axion helioscope, the most
ambitious and promising detector of solar axions to date. We show that large
improvements in magnetic field volume, x-ray focusing optics and detector
backgrounds are possible beyond those achieved in the CERN Axion Solar
Telescope (CAST). For hadronic models, a sensitivity to the axion-photon
coupling of $\gagamma\gtrsim {\rm few} \times 10^{-12}$ GeV$^{-1}$ is
conceivable, 1--1.5 orders of magnitude beyond the CAST sensitivity. If axions
also couple to electrons, the Sun produces a larger flux for the same value of
the Peccei-Quinn scale, allowing one to probe a broader class of models. Except
for the axion dark matter searches, this experiment will be the most sensitive
axion search ever, reaching or surpassing the stringent bounds from SN1987A and
possibly testing the axion interpretation of anomalous white-dwarf cooling that
predicts $m_a$ of a few meV. Beyond axions, this new instrument will probe
entirely unexplored ranges of parameters for a large variety of axion-like
particles (ALPs) and other novel excitations at the low-energy frontier of
elementary particle physics.
