Jet's rare in second place
I believe the answer is:
spurt
'jet's' is the definition.
(synonyms)
'rare in second place' is the wordplay.
'rare' becomes 'r' (listed by Oxford Dictionary of Abbreviations).
'in' means one lot of letters goes inside another.
'second' becomes 's' (common abbreviation).
'place' becomes 'put' (synonyms).
's'+'put'='sput'
'r' going inside 'sput' is 'SPURT'.
(Other definitions for spurt that I've seen before include "A short burst of activity" , "Gush out suddenly" , "Jet, gush" , "Gush; sudden burst" , "Short spell of increased speed" .)