In a medium bowl, combine shrimp, chili powder, cumin, garlic powder, smoked paprika, salt, pepper, and olive oil. Toss to coat evenly.
Preheat the air fryer to 400°F (200°C) for 5 minutes.
Place the seasoned shrimp in the air fryer basket in a single layer. Cook for 5 minutes, shaking the basket halfway through, until shrimp are pink and cooked through. Remove shrimp and set aside.
In a separate bowl, mix cooked shrimp, black beans, shredded cheese, diced onion, diced red bell pepper, and chopped cilantro.
Lay one flour tortilla flat on a clean surface. Spoon one-fourth of the shrimp mixture onto the center of the tortilla.
Fold the sides of the tortilla over the filling, then roll tightly from one end to the other to form a chimichanga. Repeat with remaining tortillas and filling.
Lightly spray each chimichanga with cooking spray to help crisp the exterior.
Place chimichangas seam side down in the air fryer basket, leaving space between each.
Air fry at 400°F (200°C) for 7 minutes, then carefully flip and cook for an additional 5 minutes or until golden brown and crispy.
Remove from air fryer and let cool for 2 minutes before serving.