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Complex Products and Systems (CoPS) industries have distinct features that differentiate them from mass-produced consumer goods as they are technological systems of high complexity, high risk, and value, which are produced as customized or small batches of capital goods and require high investments. These industries are significantly influenced by regulators. Many academic articles have already been developed in this field but there is a need to carefully analyze this literature to study the role of public institutions in the development of CoPS. The influence of the supportive and restrictive roles of public institutions on the public-private collaborations, thereby the collaborative decision-making and the knowledge sharing processes in this field need to be thoroughly studied. This research is focused on analyzing the CoPS literature developed from 1995 to 2024 and tries to show the development trend and identify possible future research avenues by linking the research findings in this field.