BAe that’s registered in US has to follow US rules, they can’t even export to British without US consent. so it’s technically two branches or separate companies I think or something like that, they registered few years ago to participate in US contract. The contract was such that the company should be registered in US. there is an article floating around about it.As for Honeywell, it's most probably for avionics. Honeywell is considered one of the gold standard when it comes to avionics. From small Inertial Navigation System for UAVs to complete autopilot suit for planes, they've their expertise. So this is what they may be bringing on the table.
As for BAe, it's a British company meaning the laws are not as stringent as those in USA, where you must adhere to ITAR regulations even for the transfer of a .jpg file via mail.
So why not have a JV with them when it's so easy