US aerospace giant Boeing announced Tuesday it has received a multi-year $4 billion order from the US Army for 177 more CH-47F Chinook helicopters.

The five-year deal includes an option for the army to buy 38 additional Chinooks, a multi-mission, twin-engine transport helicopter, Boeing said in a statement.

"This order would eventually bring the Army's CH-47F total procurement close to its target of 464 aircraft, including 24 to replace peacetime attrition aircraft," the Chicago-based company said, noting the army currently has 241 of the F-model aircraft.

Deliveries are to begin in 2015.

The order comes amid sharp, broad-based government "sequester" spending cutbacks that are especially hard-hitting for the Defense Department.

"This contract will enable Boeing and our partners and suppliers in 45 states to bring stability to the workforce and to invest in production tooling, processes and other capital improvements," Boeing said.

The contract, which is more cost-effective than annually contracting for the aircraft, will save the US Army more than $800 million, it said.

"This multi-year contract provides unprecedented savings for the US Army and American taxpayers," Colonel Robert Barrie, US Army project manager for Cargo Helicopters, said in the statement.