Europe will take years and fight over what member will make what piece. It’s the same problem NASA has when senators what to spread the job making program to their states.
The EU telcos will sweep up spectrum to inhibit new entrants from becoming successful. An EU rocket/satellite marker should be doing all of this.
Now that Starshield has proven vital to survival in a war, see: Ukraine this week, it's inevitable that the EU will pass legislation mandating its creation. This is not business as usual. The Baltics, Nordics, Poland and others are going to push for building it now.
Sure, it’s not easy, but GALILEO shows projects like this are possible and can be successful in the E.U.