The 64-year-old will play the United States president in the flick, which centers on his character forming an unlikely friendship with a shy 13-year-old boy, who is trying to prove himself by spending a night in the woods armed with just a bow and arrow.
However, when terrorists shoot down Air Force One, the boy discovers the political figure in an escape pod and they unite in a bid for survival, reported Contactmusic.
Altitude Film Entertainment have compared the forthcoming film to action movies such as 1988's 'Die Hard' and revealed it takes on similar themes to other 1980s movies including 'ET' and 'The Karate Kid', Variety reported.
Jalmari Helander will direct the movie, which will be his English-language debut, and Petri Jokiranta is to produce the motion picture alongside Altitude's Will Clarke and Andy Mayson.
Production on the film will start in Finland and Germany this summer.