My only real issue with using raspberry Pi's in an industrial application is that the NVRAM on which the OS resides is not particularly robust, nor is it particularly deterministic in terms of performance. That could probably be fixed to some level by hacker types, but depending on the hard real-time or high availability needs, the amount of effort may quickly eclipse the convenience/cost of the cheap SBC.
Many real-time systems are not designed to have backup power systems, even though many of them end up having them attached. Rather, they are designed to start up 100% reliably to a known, operable state no matter how badly power has been cycled to the unit.
Like others have said, hard real-time capability is hindered by the OS, but for very hard real-time systems, the CPU may have to provide some guaranteed parameters in how deep the execution pipelines are, the type of speculation, the cache/memory arrangement, and how preemption occurs with interrupts. This is why research is done on "Worst Case Execution Time" as a sort-of-standard metric on real-time hardness.
So I guess in summary - it all depends on how real-time or robust you want it to be. Keeping in mind, of course, that some industrial SBCs have very soft real-time requirements and some are not particularly robust at all.