This paper investigates how industry-specific attributes shape the sequence and nature of windows of opportunity in Complex Product System (CoPS) industries, focusing on Iran's gas turbine sector. Unlike prior research on mass-produced goods or open economies, this study applies the windows of opportunity framework to a constrained, latecomer CoPS context. Using a qualitative case study approach, we analyzed 17 semi-structured interviews and extensive documents from 2000–2024. Our chronological and thematic analysis reveals a distinct sequence: (1) domestic demand, (2) institutional/policy, (3) technological learning (instead of a radical technology window), and (4) limited global demand. This sequence is not generic but is shaped by the sector’s unique technological regime, institutional arrangement, and demand structure. These attributes explain why breakthrough technology windows are absent and why catch-up is dominated by policy-driven learning and incremental innovation. The findings contribute to CoPS and technological catch-up literature by demonstrating that windows of opportunity are contingently ordered and mediated by industry-specific characteristics, especially in sanctioned or institutionally constrained settings. The study refines sectoral innovation systems theory and offers practical implications for policymakers and firms in latecomer economies aiming to foster innovation in complex, high-technology industries.