The Australian skipper has secured over 300 dismissals in 71 appearances with an average of 22.10.
Australia's selection chief Bailey has declared that captain Pat Cummins will play a "major part" in the upcoming Ashes series.
There were concerns that the veteran bowler might sit out due to a ongoing back issue that had not yet healed.
Previous updates from the Australian camp suggested no final decision had been made regarding whether he would play, with the five-Test series scheduled to begin on 21 November in Western Australia.
The selector shared that Cummins is "building up" and felt positive about the likelihood of being involved.
"We're aware that time is getting short and multiple considerations at play, not only the physical problem, but additional elements," Bailey remarked.
"We're encouraged. We firmly believe that he'll participate in a key capacity. With luck it's the first Test. Otherwise, we'll reassess."
Past Concerns
The captain missed Australia's limited-overs series against New Zealand and India recently after medical tests showed a lumbar bone stress.
Previous incidents include of back injuries, with flare-ups in several earlier campaigns leading to absences from three Australian summers in a short span.
He emphasized he would be bold in recovery efforts in his comeback strategy to make the squad for the contest.
Bailey noted that it was unclear if he had started his bowling workouts as part of his recovery but conceded it was "pressing" for him to be fit for the initial match.
Alternative Arrangements
In case of absence, ex-skipper Smith will lead the side.
The talented all-rounder was withdrawn recently from the national team for their ODI contests against India as a precautionary measure because of soreness in his side.
Bailey described it as a "small issue and mentioned that Green will play in the domestic first-class competition, so will be "in a good place to be ready to bowl."
"Considerable effort has gone into creating the schedule for him to take part for the first Test as an all-rounder," the selector detailed.
"He was only going to play the first two ODIs anyway. The way he swings the bat in limited-overs, should it hinder progress for a short period, we opted to approach this more conservatively."
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