Muslims to rule the world?

A reading of the verse 55 of Surah Al-Noor seems to suggest that. But when Muslim were the sole ruler of the much of the known world and leader of the education and science & technology for about thousand years then can we not call it that this promise has been already fulfilled? Nothing in this verse suggest that this promise is till perpetuity. In fact, there is a big condition imposed in the beginning that Muslims should be doing "good work" [عَمِلُواْ ٱلصَّـٰلِحَـٰتِ]. Are Muslims being "good" to the world?

I am sure lot of Muslim terrorist may be using this verse to justify their violent campaign to gain power in their countries or dream of world dominion but they first have to fulfill their promise of doing "good work." What good is it when one oppressor is replaced with another violent ruler?

Allah hath promised such of you as believe and do good work that He will surely make them to succeed (the present rulers) in the earth even as He caused those who were before them to succeed (others); and that He will surely establish for them their religion which He hath approved for them, and will give them in exchange safety after their fear. They serve Me. They ascribe no thing as partner unto Me. Those who disbelieve henceforth, they are the miscreants. [Surah Al-Noor: 55]