Teledyne Technologies Inc. said Monday that the U.S. Navy’s Space and Naval Warfare Systems Command had awarded a contract for design and construction of gliders and support equipment.

The Thousand Oaks contractor said the initial $6.2 million contract for its Teledyne Brown Engineering Inc. in Huntsville, Ala. is expected to be completed by July 2010. If all options are exercised, the contract would continue into late 2014 and bring in an estimated $52.6 million.

The Navy plans to use fleets of the relatively low-cost gliders to fly over ocean waters in order to improve positioning of fleets during naval maneuvers.

Teledyne shares closed up $2.06, or 8 percent, to $26.82 on the New York Stock Exchange.