The pace bowler has claimed 309 Test scalps in 71 appearances with an stellar bowling average.
Australia's chair of selectors the selector has declared that captain Pat Cummins will have a crucial role in the forthcoming Ashes series.
Speculation had been growing that the 32-year-old might be unavailable due to a persistent back stress problem that was still troubling him.
Previous updates from the squad suggested no definitive call had been made regarding whether he would play, with the extended contest kicking off on 21 November in Perth.
The selector shared that his recovery is on track and was "optimistic" about his chances of being involved.
"It's clear that time is getting short and there are permutations at play, aside from the physical problem, but other factors as well," Bailey remarked.
"We're encouraged. We firmly believe that he will feature a major part. Hopefully it's the first Test. If not, then we'll pick it up."
Injury History
The captain missed the white-ball matches against India and New Zealand in the previous weeks after medical tests showed a stress reaction in his back.
He has a history of back injuries, with recurrences in multiple past seasons leading to absences from several home seasons in four years.
He emphasized he would be proactive in his approach in his recovery plan to secure his spot for the contest.
Bailey noted that it was unclear if he had started his bowling workouts as part of his rehabilitation but admitted it was "getting tight" for him to regain fitness for the initial match.
Backup Options
In case of absence, former captain Steve Smith will assume leadership.
All-rounder Cameron Green was withdrawn recently from Australia's squad for their ODI contests against the Asian giants as a preventive step because of an abdominal issue.
Bailey described it as a "slight concern and stated that Green will play in the Sheffield Shield, so will be "well-prepared to be ready to bowl."
"Extensive planning has gone into creating the schedule for him to be available for the first Test as an all-rounder," he elaborated.
"His involvement was limited to the initial matches regardless. His aggressive style the willow in shorter formats, if it causes any delay for another day, we opted to adopt a safer strategy."
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