Pat Cummins has secured 309 wickets in 71 five-day games with an average of 22.10.
Australia's chair of selectors the selector has confirmed that skipper Cummins will play a "major part" in the upcoming England-Australia contest.
There were concerns that the 32-year-old might be unavailable due to a persistent back stress problem that had not yet healed.
Earlier indications from team management suggested no official announcement had been made regarding his involvement, with the Test matches scheduled to begin on November 21 in the WACA.
Bailey expressed that Cummins is "building up" and felt positive about the prospects of participating.
"It's clear that the window is narrowing and multiple considerations involved, not just his injury, but additional elements," the selector added.
"The outlook is good. There's strong faith that he's going to play a significant role. Hopefully from the opening match. Otherwise, we'll reassess."
Previous Setbacks
The captain missed the ODI and T20 games against New Zealand and India last month after medical tests showed a lumbar bone stress.
There is a track record of back injuries, with recurrences in several earlier campaigns leading to absences from multiple domestic campaigns in a limited period.
The bowler mentioned he would be ""aggressive" and "take risks" in his recovery plan to secure his spot for the Ashes.
He mentioned that there was no confirmation if Cummins had begun bowling as part of his recovery but admitted it was "becoming urgent" for him to recover fully for the initial match.
Contingency Plans
Should Cummins not be fit, former captain Steve Smith will take over the captaincy.
All-rounder Cameron Green was excluded lately from Australia's squad for their ODI contests against the subcontinent side as a safety move because of soreness in his side.
Bailey described it as a "slight concern and confirmed that Green will play in the Sheffield Shield, so will be "ideally positioned to deliver overs."
"Extensive planning has gone into building out the plan for him to take part for the initial game as an batting and bowling option," the selector detailed.
"His involvement was limited to the first two ODIs anyway. The way he swings the willow in shorter formats, if it causes any delay for 24 more hours, the choice was made to adopt a safer strategy."
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