Teledyne Technologies Inc. announced Monday that a subsidiary has been awarded a contract to design and manufacture its Shallow Water Combat Submersible as a replacement for the Navy’s Seal Delivery Vehicle.

The contract, including all options, is valued at $383 million and also includes testing and service.

The Thousand Oaks company’s Teledyne Brown Engineering Inc. division in Huntsville, Ala. already developed a full-scale interior mockup of the submersible under a contract awarded last October by the U.S. Special Operations Command. The command oversees the elite military tactical teams of all four military services.

“Winning this program validates our continuing strategy of integrating advanced technologies into complex systems for our customers in the marine defense, ocean science and offshore energy markets,” Robert Mehrabian, chief executive of Teledyne Technologies, said in a statement.

Teledyne Technologies also announced that Teledyne Brown was selected to provide Open Ocean gliders for the Ocean Observatories Initiative. The Navy plans to use the long-range gliders for oceanographic data that will improve positioning of fleets during naval maneuvers.

Teledyne Brown will provide the Navy with a fleet of 150 marine gliders for a contract value of more than $53 million if all options are exercised.

Teledyne shares earlier closed down $1.11, or 2 percent, to $49.41 on the New York Stock Exchange.