With that iPhone Air Mass distribution and internal component list I am very much looking forward to future iPhone Air.

SoC with TSMC A20 or A14, N2 and C2 ( I expect the two will merge into one at some point ), Tandem OLED, all with better Energy efficiency, Silicon Carbon Battery with double energy capacity. All of these tech are here or ready within next 3 - 5 years. It is more of a question of whether Apple is willing to pay for it to be mass produced.

With the energy efficiency gain and battery improvements I could see iPhone Air getting double the battery life. It would be better than even today's iPhone 17 Pro Max in 5 years time.

This opens up the door for iPhone Air Mini. I say mini but it will probably still be 5.9", but weight the same as iPhone Mini ( I assume that is something Apple will market it as ).

The only thing I wish and I dont know if it is feasible, is the Camera lans to be the same as back of the bump without much loss of photo quality. And I am willing to pay extra $100 to $200 for it. I just dont know if the tech is here in the near future.