Place the asparagus in a large bowl and drizzle with olive oil. Add the minced garlic, salt, pepper, and Parmesan cheese. Use kitchen tongs to toss the asparagus so that it is evenly covered with seasonings and oil.
Cut the strips of bacon in half. Gather 5–6 asparagus stems together, then wrap a piece of bacon around each bundle, pointing towards the center of the spears.
Continue with all the asparagus, arranging them in the air fryer in a single layer, making sure they are seam side down, and adding them so that none are touching.