Navigant: Aviation and Marine Biofuels Market Expanding Rapidly

Biofuels will make up 6.1 percent of the United States' aviation and marine fuel market and generate $7.8 billion in revenue by 2024, according a report by Navigant Research. Growth will be driven by a need to hedge rising fuel costs, comply with new emissions regulations, and energy security and combat readiness concerns. Aircraft manufacturers, turbine engine manufacturers, and commercial airlines have partnered in flying more than 600,000 miles powered by biofuels since 2008.