As we move into the future, are we going to phase out Pneumatic Instruments completely from Industrial Control applications?
Many pneumatic systems are being replaced by servo motors, but pneumatic is still necessary for some hazardous areas, so it's doubtful if there is ever a point where you never see it again.
I don't know that I would rip them out indiscriminately, but over time I would be replacing them with something more modern and reliable. I certainly would not be putting in any new systems that used pneumatic controls except maybe valve actuators.
Pneumatic actuators on control valves are pretty solid.
Beyond that, you might be able to conjure up a situation where it makes sense to use them, but for the general case, there is just no good reason to use them anymore. But there is maybe no good reason to rip them out either as long as they are working and can be maintained and repaired.
Short answer no.
Pnuematic field transmitters and controllers used to be the standard. They are now obsolete, uncommon and if still available very expensive.
Electronic smart transmitters either 4-20mA HART or fieldbus are now the standard.
Pneumatic air power for valves is still the standard, inexpensive to run, inherent backup with volume bottles, air recieves and large diameter air headers. The modern valve positioner is electronic and smart, it just controls air pressure to a puematic diapragm or piston valve actuator.
If your positioners are too old and not smart there may be advantages to replacing them.