Let's observe the pattern in the given series: \[ \begin{aligned} 3 \times 2 + 1 &= 7 \\ 7 \times 2 + 1 &= 15 \\ 15 \times 2 + 1 &= 31 \\ 31 \times 2 + 1 &= 63 \\ 63 \times 2 + 1 &= 127 \\ \end{aligned} \] Each term is obtained by multiplying the previous term by 2 and then adding 1. So, the next term is: \[ 63 \times 2 + 1 = 126 + 1 = 127 \] Answer: \(\boxed{127}\)