Hi!
With 11.3, this is indeed possible. Files downloaded from the library store have the format .sma (model library & model archive files) and can be imported using the Import function. Furthermore, files with the extension .mo (model files), .sma, .fmu (functional mock-up units ), and .sme (simulation files) can all be imported into the Wolfram Language without having direct use of Wolfram SystemModeler.
The documentation for each format provides a bit more context:
Since .mo files are textbased, written in the Modelica Language they can also be imported using the ImportString[data, "MO"] function.