The Australian skipper has secured over 300 dismissals in 71 appearances with an average of 22.10.
Australia's chief selector Bailey has stated that skipper Cummins will play a "major part" in the forthcoming Ashes series.
There were concerns that Cummins might be unavailable due to a persistent back stress problem that remained unresolved.
Previous updates from the squad suggested no official announcement had been made regarding his involvement, with the Test matches scheduled to begin on the 21st of November in Western Australia.
Bailey expressed that Cummins is "building up" and felt positive about the prospects of participating.
"It's clear that time is getting short and there are permutations at play, aside from his injury, but additional elements," he commented.
"The outlook is good. There's strong faith that he'll participate in a significant role. With luck starting in Perth. Otherwise, we'll adjust."
Past Concerns
He was sidelined the white-ball matches against India and New Zealand recently after examinations confirmed a lumbar bone stress.
There is a track record of recurring issues, with setbacks in several earlier campaigns leading to absences from multiple domestic campaigns in a short span.
He emphasized he would be ""aggressive" and "take risks" in his rehabilitation process to ensure his availability for the series.
He mentioned that he did not know if Cummins had begun bowling as part of his recovery but conceded it was "pressing" for him to be fit for the first Test.
Contingency Plans
Should Cummins not be fit, veteran batsman Smith will take over the captaincy.
All-rounder Cameron Green was withdrawn recently from the national team for their one-day international series against the subcontinent side as a safety move because of soreness in his side.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 "ideally positioned to resume bowling."
"We put so much time has gone into developing the strategy for him to be available for the initial game as an dual-role player," the selector detailed.
"Originally, he'd only feature in the first two ODIs in any case. His aggressive style the bat in limited-overs, even if it just sets him back for a short period, the choice was made to take a cautious route."
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