This study investigates the innovation strategies of latecomer firms within complex products and systems (CoPS) industries and analyzes the pathway to overcome resource constraints and technological gaps to achieve catch-up. Employing a qualitative meta-synthesis approach based on the PRISMA 2020 guidelines, this research reviewed articles published in reputable databases between 2005 and 2024, and synthesized the innovation strategies in these firms based on 62 final peer-reviewed articles through thematic analysis. Findings indicate that the success of latecomer firms requires directive government support in the role of coordinator and market shaper with strategic public procurement, and a robust industrial ecosystem. Furthermore, the catch-up trajectory extends beyond a simple technology–market dichotomy and is explained as a dominant and cumulative three-stage pattern. This trajectory begins with foundational technology-based strategies, continues with the development of system integration capabilities, and culminates in the utilization of advanced market-oriented strategies, including business model innovation and service-oriented approaches. The follower pathway in a compressed timeframe and through planned acceleration was identified as the dominant and most rational catch-up route. To explain this evolutionary pattern in a real context, evidence from the MAPNA Group in the Iranian power generation turbine industry was examined, which showed that the catch-up trajectory is realized in three stages: initial capacity building with government leadership, localization and incremental innovation, and independent design and commercialization. By presenting a multi-level framework, this study clarifies the conditions required for entering the post-catch-up era, providing an analytical framework for the transition of latecomer firms to global technological leadership.