In a large mixing bowl, combine ground meat, egg, parmesan cheese, garlic powder, salt, and pepper. Form a loaf with the meat mixture. Preheat air fryer to 380 degrees.
Lay bacon down slightly overlapping on a cutting board, set meat in middle and wrap around your loaf. Lay a large piece of foil down and set wrapped meatloaf in center. Fold up sides to create a sort of boat for it to sit in. Place foil boat in your preheated.
Air fry at 380 F for 50 minutes or until the internal temperature reaches 165ºF. If bacon begins to crisp around minute 40 and brown too quickly, simply cover top with the sides of your tin foil for the remainder of the cooking time.