The pace bowler has claimed 309 wickets in 71 appearances with an stellar bowling average.
The Australian selection chief the selector has confirmed that captain Pat Cummins will be a central figure in this winter's Ashes series.
Speculation had been growing that Cummins might be unavailable due to a ongoing back issue that was still troubling him.
Initial reports from the Australian camp suggested no official announcement had been made regarding Cummins' participation, with the five-Test series scheduled to begin on November 21 in Western Australia.
Bailey expressed that Cummins is "building up" and was "optimistic" about the likelihood of taking part.
"We know that time is getting short and various factors around that, not just the physical problem, but additional elements," the selector added.
"The outlook is good. [We are] really confident that he'll participate in a significant role. Hopefully starting in Perth. If not, we'll reassess."
Injury History
The captain missed Australia's limited-overs series against India and New Zealand recently after medical tests showed a stress reaction in his back.
He has a history of back injuries, with setbacks in multiple past seasons causing him to miss three Australian summers in four years.
Cummins stated he would be proactive in his approach in his recovery plan to make the squad for the contest.
Bailey noted that there was no confirmation if Cummins had begun bowling as part of his rehabilitation but conceded it was "getting tight" for him to regain fitness for the opener.
Alternative Arrangements
If he's unavailable, ex-skipper Smith will take over the captaincy.
Versatile player Green was withdrawn recently from the ODI lineup for their ODI contests against the subcontinent side as a preventive step because of an abdominal issue.
The selector characterized it as a "small issue and mentioned that he's scheduled to appear in the Sheffield Shield, so will be "well-prepared to be ready to bowl."
"Considerable effort has gone into developing the strategy for him to be available for the first Test as an batting and bowling option," the selector detailed.
"His involvement was limited to the initial matches in any case. How he handles the cricket bat in white-ball cricket, if it causes any delay for a short period, we just made the decision to approach this more conservatively."
Fixture Details
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