Bring a large pot of water to boil and add pasta. Cook according to package directions. Drain the pasta and place back in the pot. Add the tomato sauce to the pasta and place the pot over low heat to keep warm.
Place rack in top third of oven; preheat to 425°.
Spray a large rimmed baking sheet with nonstick cooking spray.
Beat together eggs, panko, water, salt, garlic powder, black pepper, Parmesan cheese, and 2 Tbsp. oil in a medium bowl until nearly a smooth paste.
Mix in one quarter of meat (combining just a small amount of meat in the beginning makes it easier to incorporate the rest without overmixing). Add remaining meat and mix well to thoroughly combine, but don’t overwork it.
Form the meat mixture into 8 large meatballs and place on prepared baking sheet.
Bake meatballs until well browned underneath, about 15 minutes. Using a stiff metal spatula, pry up and turn over meatballs (they may want to stick a bit). Bake until browned on second side and cooked through, about 5–7 minutes.
Divide the pasta between 4 plates, and top with 2 meatballs each.