A Teledyne Technologies Inc. subsidiary has won a $350 million contract to design and test new space systems for NASA, the company said Thursday.

The Thousand Oaks company’s Teledyne Brown Engineering Inc. unit in Huntsville, Ala., was selected as one of three contractors for NASA’s engineering and prototyping operations at its Marshall Space Flight Center. The contracts will run for five years.

The other two contractors were Radiance Technologies Inc. in Huntsville and Wyle Laboratories Inc. in Houston.

“The Marshall Space Flight Center is a centerpiece of NASA’s engineering capabilities and is critical to America’s future in space,” Teledyne chief executive Robert Mehrabian said in a statement.

Shares of Teledyne rose 1.5 percent to $76.49 Friday.