Preheat air fryer to 350 degrees F according to manufacturer's instructions.
In a large bowl, combine beef, bread crumbs, Parmesan, milk, egg, ketchup, Worcestershire sauce, Italian seasoning, salt, paprika, onion powder and garlic powder.
Create a sling using a large piece of foil, roughly 2-3 inches wide that will extend beyond the sides of the meatloaf so you can lift it out after. Lightly grease the top and place the sling into the basket of the air fryer.
Shape the meatloaf mixture into a log shape (about 6 inches long by 3-4 inches wide and 1.5-2 inches deep) and place on the sling in the air fryer.
Cook for 30-40 minutes, checking and covering the top with foil partway through if necessary to prevent burning (this is a bigger problem with smaller air fryers, as the element is closer to the meat). Cook until the internal temperature is a minimum 160 degrees F.
Meanwhile, stir together the ketchup and brown sugar.
Open the air fryer, brush on the glaze on top and cook for 2 more minutes.
Remove from the air fryer and let rest for 5-10 minutes before slicing (the longer it rests, the easier it will slice).