The pace bowler has taken over 300 dismissals in 71 Test matches with an average of 22.10.
Australia's chief selector Bailey has confirmed that captain Pat Cummins will play a "major part" in the forthcoming Ashes series.
There were concerns that Cummins might be unavailable due to a stress fracture in his back that was still troubling him.
Initial reports from the Australian camp suggested no final decision had been made regarding his involvement, with the Test matches scheduled to begin on 21 November in Western Australia.
Bailey expressed that his recovery is on track and remained hopeful about his chances of taking part.
"It's clear that time is getting short and various factors involved, not just the back issue, but further aspects," he commented.
"We're encouraged. We firmly believe that he will feature a major part. Ideally it's the first Test. If not, we'll adjust."
Past Concerns
Cummins was ruled out the white-ball matches against India and New Zealand in the previous weeks after medical tests showed a lower back issue.
He has a history of spinal problems, with recurrences in multiple past seasons forcing him out of several home seasons in a short span.
He emphasized he would be bold in recovery efforts in his comeback strategy to secure his spot for the contest.
The selector indicated that there was no confirmation if Cummins had begun bowling as part of his comeback but conceded it was "getting tight" for him to be fit for the initial match.
Backup Options
In case of absence, veteran batsman Smith will take over the captaincy.
All-rounder Cameron Green was withdrawn recently from the ODI lineup for their ODI contests against the subcontinent side as a precautionary measure because of soreness in his side.
He labeled 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 take part for the initial game as an all-rounder," Bailey explained.
"Originally, he'd only feature in the first two ODIs regardless. The way he swings the bat in limited-overs, even if it just sets him back for a short period, the choice was made to approach this more conservatively."
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