The Boeing [NYSE:BA] proposal for its MH-139 helicopter to replace the U.S. Air Force’s aging Huey fleet could save more than $1 billion in acquisition costs and lifecycle expenses.

The company today submitted its bid for the Air Force to buy up to 84 MH-139s to protect the country’s intercontinental ballistic missiles and meet certain domestic military transport needs. A contract award is expected next year. The UH-1N Huey fleet entered service in the 1970s.

The MH-139 is based on the AW139 that’s in service with more than 250 government, military, and commercial operators around the world. Leonardo Helicopters builds the market-leading aircraft in Philadelphia.

Boeing military rotorcraft expertise, combined with the non-developmental, multi-mission helicopter, will provide exceptional value and capability to the Air Force and taxpayers.