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Biofuels will make up over 6 percent of the marine fuel and aviation market in the United States within the next 10 years, according to a recent report by Navigant Research.

Aviation and marine biofuels represent one of the fastest-growing segments of the global biofuels market. In the last five years, more than 40 commercial airlines around the world have flown an estimated 600,000 miles powered at least in part by biofuels.

According to Navigant Research, much of the development in this sector centers on the world's largest aviation market: the United States. By 2024, the report concludes, biofuels will make up 6.1 percent of the country's aviation and marine fuel market.

"The United States is expected to emerge as the clear leader in the construction of integrated biorefineries capable of producing bio-based jet fuel and marine distillates over the next 10 years," said Mackinnon Lawrence, research director with Navigant Research. "New biorefinery construction in the U.S. is expected to generate $7.8 billion in cumulative revenue over the next 10 years, representing 66 percent of the revenue generated globally."

The European Union (EU) is also an active participant in the emerging aviation and marine biofuels market, the report points out. The biggest wildcard in forecasting EU growth projections is the implementation of the EU emissions trading system, Navigant Research says.

"If the EU moves forward with a carbon tax on airlines operating in EU territory, then investment in building aviation and marine biofuels production capacity is expected to increase dramatically across the region," said the reaseach firm.

The report, entitled: 'Aviation and Marine Biofuels', provides forecasts and market sizing for nameplate production capacity and production volumes for advanced aviation and marine biofuels. Forecasts are segmented by geography, conversion platform, and fuel type. The total addressable market size for commercial aviation, marine shipping, and U.S. military applications is analyzed, and the report also provides a qualitative analysis of key stakeholder initiatives, market drivers, challenges, and technology developments, as well as profiles of key stakeholders across the value chain.