NATO countries agree to spend 5% of GDP on defense: Which countries led in 2024?

1. NATO members raised defense spending target from 2% to 5% of GDP by 2035. 2. The U.S. leads NATO with $967 billion in defense spending for 2024. 3. Record numbers of NATO members are now meeting the 2% spending threshold. 4. Defense spending surge may lead to increased defense contracts in the U.S. 5. Spain is the only NATO member opting out, citing smaller military needs.