The pace bowler has secured 309 wickets in 71 five-day games with an impressive average.
Australia's chair of selectors the selector has stated that captain Pat Cummins will play a "major part" in this winter's Ashes series.
There were concerns that Cummins might sit out due to a ongoing back issue that remained unresolved.
Earlier indications from the squad suggested no definitive call had been made regarding his involvement, with the five-Test series set to start on 21 November in Perth.
The selector shared that Cummins is "building up" and was "optimistic" about his chances of being involved.
"We're aware that time is getting short and there are permutations around that, not only the back issue, but further aspects," Bailey remarked.
"It's positive. [We are] really confident that he'll participate in a major part. With luck it's the first Test. Otherwise, we'll reassess."
Injury History
Cummins was ruled out Australia's limited-overs series against both Asian and Trans-Tasman rivals recently after examinations confirmed a lower back issue.
He has a history of spinal problems, with recurrences in 2012-13, 2013-14 and 2015-16 causing him to miss three Australian summers in a short span.
The bowler mentioned he would be bold in recovery efforts in his rehabilitation process to secure his spot for the series.
The selector indicated that he did not know if the captain had resumed bowling as part of his rehabilitation but conceded it was "getting tight" for him to be fit for the initial match.
Contingency Plans
In case of absence, veteran batsman Smith will assume leadership.
The talented all-rounder was excluded lately from the ODI lineup for their limited-overs matches against the subcontinent side as a preventive step because of discomfort in his torso.
He labeled it as a "small issue and confirmed that he'll feature in the domestic first-class competition, so will be "ideally positioned to resume bowling."
"We put so much time has gone into developing the strategy for him to take part for the first Test as an batting and bowling option," he elaborated.
"Originally, he'd only feature in the first two ODIs regardless. The way he swings the bat in limited-overs, if it causes any delay for another day, we opted to approach this more conservatively."
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