The Australian skipper has secured 309 Test scalps in 71 Test matches with an average of 22.10.
The Australian selection chief Bailey has declared that captain Pat Cummins will have a crucial role in the upcoming Ashes series.
There were concerns that the veteran bowler might miss the series due to a stress fracture in his back that remained unresolved.
Previous updates from team management suggested no official announcement had been made regarding Cummins' participation, with the Test matches scheduled to begin on November 21 in Western Australia.
Bailey expressed that his recovery is on track and was "optimistic" about the likelihood of taking part.
"We're aware that the clock is ticking and multiple considerations involved, not just his injury, but other factors as well," Bailey remarked.
"The outlook is good. [We are] really confident that he'll participate in a key capacity. Hopefully it's the first Test. Otherwise, we'll adjust."
Past Concerns
Cummins was ruled out Australia's limited-overs series against both Asian and Trans-Tasman rivals in the previous weeks after examinations confirmed a lumbar bone stress.
He has a history of back injuries, with recurrences in 2012-13, 2013-14 and 2015-16 leading to absences from three Australian summers in a short span.
Cummins stated he would be ""aggressive" and "take risks" in his rehabilitation process to ensure his availability for the contest.
Bailey noted that he did not know if Cummins had begun bowling as part of his rehabilitation but acknowledged it was "becoming urgent" for him to recover fully for the first Test.
Backup Options
If he's unavailable, ex-skipper Smith will take over the captaincy.
All-rounder Cameron Green was withdrawn recently from the ODI lineup for their one-day international series against the Asian giants as a safety move because of discomfort in his torso.
Bailey described it as a "small issue and mentioned that he's scheduled to appear in the Sheffield Shield, so will be "ideally positioned to resume bowling."
"We put so much time has gone into building out the plan for him to be available for the opening match as an batting and bowling option," he elaborated.
"His involvement was limited to the first two ODIs regardless. His aggressive style the bat in limited-overs, even if it just sets him back for another day, we opted to take a cautious route."
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