The Australian skipper has claimed over 300 dismissals in 71 appearances with an average of 22.10.
Australia's chair of selectors Bailey has confirmed that captain Pat Cummins will have a crucial role in the forthcoming England-Australia contest.
There were concerns that Cummins might miss the series due to a ongoing back issue that had not yet healed.
Initial reports from the Australian camp suggested no final decision had been made regarding whether he would play, with the extended contest kicking off on the 21st of November in the WACA.
Bailey expressed that his recovery is on track and was "optimistic" about the likelihood of participating.
"We're aware that the window is narrowing and various factors at play, not just the physical problem, but other factors as well," he commented.
"We're encouraged. We firmly believe that he's going to play a major part. Hopefully from the opening match. If not, we'll adjust."
Previous Setbacks
The captain missed the white-ball matches against India and New Zealand recently after scans revealed a lumbar bone stress.
He has a history of back injuries, with setbacks 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 recovery plan to make the squad for the contest.
Bailey noted that there was no confirmation if Cummins had begun bowling as part of his recovery but conceded it was "getting tight" for him to regain fitness for the first Test.
Contingency Plans
In case of absence, ex-skipper Smith will assume leadership.
The talented all-rounder was recently pulled out from Australia's squad for their limited-overs matches against the subcontinent side as a safety move because of discomfort in his torso.
Bailey described it as a "slight concern and stated that he's scheduled to appear in the state-level matches, so will be "well-prepared to deliver overs."
"Considerable effort has gone into building out the plan for him to participate for the initial game as an batting and bowling option," he elaborated.
"His involvement was limited to the first two ODIs regardless. His aggressive style the cricket bat in white-ball cricket, should it hinder progress for 24 more hours, the choice was made to take a cautious route."
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