Purpose. Taking into account the production and commissioning of modern high-speed rolling stock, the authors are aimed to analyze the currently created mathematical models describing the dynamic behavior of the air spring, systematize them and consider the advantages and disadvantages of each model type. Methodology. For the analysis, a comparative chronological method was used, which makes it possible to trace the development of several points of view, concepts, theories. In accordance with the adopted decision equations, the existing models of air springs were divided into three groups: mechanical, thermodynamic and finite-elements. When analyzing mathematical models, the influence of a number of parameters on the dynamic behavior of the air spring, such as disturbing force frequency, heat transfer, nonlinear characteristics of materials, the shape of the membrane, etc., was considered. Findings. A feature of mechanical models is the determination of input parameters based on the analysis of experimental results, requires access to complex measuring equipment and must be performed for each new model of an air spring separately. Unlike mechanical models, which allow taking into account the damping effect of an air spring in the horizontal and vertical direction, thermodynamic models are mainly focused on studying the dynamic behavior of an air spring in the vertical direction. The use of the finite element method makes it possible to most accurately reproduce the dynamic behavior of an air spring, however, it requires significant expenditures of time and effort to create a finite element model and perform calculations. Originality. Mathematical models of the dynamic behavior of an air spring are systematized, and the importance of their study in conjunction with a spatial mathematical model of high-speed rolling stock is emphasized. Practical value. The analysis of the mathematical models of the dynamic behavior of the air spring shows the ways of their further improvement, indicates the possibility of their use in the spatial mathematical model of the rolling stock in accordance with the tasks set. It will allow, even at the design stage of high-speed rolling stock, to evaluate its dynamic characteristic and traffic safety indicators when interacting with a railway track.