The pace bowler has claimed 309 wickets in 71 appearances with an impressive average.
The Australian chief selector the selector has stated that skipper Cummins will play a "major part" in this winter's England-Australia contest.
There were concerns that the 32-year-old might miss the series due to a persistent back stress problem that had not yet healed.
Initial reports from team management suggested no definitive call had been made regarding whether he would play, with the extended contest set to start on 21 November in the WACA.
Bailey expressed that the captain is progressing and felt positive about the likelihood of being involved.
"We know that time is getting short and various factors at play, not just his injury, but additional elements," Bailey remarked.
"The outlook is good. There's strong faith that he's going to play a major part. Hopefully starting in Perth. Otherwise, then we'll pick it up."
Past Concerns
Cummins was ruled out the white-ball matches against both Asian and Trans-Tasman rivals last month after scans revealed a stress reaction in his back.
There is a track record of spinal problems, with flare-ups in several earlier campaigns leading to absences from three Australian summers in four years.
Cummins stated 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 acknowledged it was "getting tight" for him to regain fitness for the opener.
Alternative Arrangements
In case of absence, former captain Steve Smith will lead the side.
Versatile player Green was excluded lately from Australia's squad for their ODI contests against the subcontinent side as a precautionary measure because of discomfort in his torso.
Bailey described it as a "small issue and confirmed that he's scheduled to appear in the Sheffield Shield, so will be "well-prepared to deliver overs."
"Extensive planning has gone into creating the schedule for him to take part for the first Test as an batting and bowling option," the selector detailed.
"He was only going to play the initial matches regardless. The way he swings the willow in shorter formats, if it causes any delay for a short period, the choice was made to approach this more conservatively."
Fixture Details
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