The Australian skipper has taken 309 wickets in 71 Test matches with an impressive average.
Australia's chair of selectors the selector has stated that captain Pat Cummins will play a "major part" in the forthcoming Ashes series.
There were concerns that Cummins might sit out due to a ongoing back issue that had not yet healed.
Initial reports from the Australian camp suggested no official announcement had been made regarding whether he would play, with the Test matches scheduled to begin on 21 November in the WACA.
He revealed that his recovery is on track and remained hopeful about the prospects of being involved.
"It's clear that time is getting short and there are permutations at play, not only the back issue, but other factors as well," the selector added.
"The outlook is good. We firmly believe that he's going to play a major part. Ideally starting in Perth. If not, we'll reassess."
Injury History
He was sidelined the white-ball matches against India and New Zealand last month after medical tests showed a stress reaction in his back.
Previous incidents include of spinal problems, with recurrences in 2012-13, 2013-14 and 2015-16 leading to absences from several home seasons in a limited period.
The bowler mentioned he would be ""aggressive" and "take risks" in his recovery plan to secure his spot for the series.
Bailey noted that he did not know if he had started his bowling workouts as part of his recovery but conceded it was "becoming urgent" for him to recover fully for the opener.
Backup Options
Should Cummins not be fit, former captain Steve Smith will assume leadership.
All-rounder Cameron Green was recently pulled out from the ODI lineup for their ODI contests against the Asian giants as a precautionary measure because of an abdominal issue.
Bailey described it as a "slight concern and confirmed that Green will play in the Sheffield Shield, so will be "well-prepared to deliver overs."
"Considerable effort has gone into building out the plan for him to take part for the first Test as an dual-role player," he elaborated.
"He was only going to play the initial matches anyway. How he handles the bat in limited-overs, even if it just sets him back for 24 more hours, we just made the decision to approach this more conservatively."
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The Historic Rivalry
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