Place the trimmed asparagus spears in a baking dish or tray so they can lay flat.
Drizzle with olive oil and lemon juice then season with salt, pepper, garlic powder and paprika. Toss to combine and evenly distribute the seasonings.
Wrap 5-6 spears of asparagus with one slice of bacon. Transfer the bundle to the rack or basket of the air fryer with the seam side of the bacon facing down.
Repeat with remaining asparagus.
Air fry at 400°F for 13-15 minutes until bacon is crispy and asparagus roasted and tender. Exact timing will depend on thickness of asparagus and bacon. Start checking the bundles around the 10 minute mark.
Remove from air fryer and transfer to a plate. Best served immediately while hot and crispy.