The pace bowler has claimed over 300 dismissals in 71 appearances with an stellar bowling average.
The Australian selection chief Bailey has confirmed that captain Pat Cummins will be a central figure in this winter's England-Australia contest.
There were concerns that Cummins might sit out due to a ongoing back issue that remained unresolved.
Earlier indications from the squad suggested no definitive call had been made regarding whether he would play, with the Test matches set to start on 21 November in Western Australia.
He revealed that the captain is progressing and remained hopeful about his chances of being involved.
"We're aware that the window is narrowing and various factors at play, aside from the back issue, but additional elements," the selector added.
"We're encouraged. [We are] really confident that he's going to play a major part. With luck from the opening match. Otherwise, we'll adjust."
Past Concerns
The captain missed the white-ball matches against both Asian and Trans-Tasman rivals last month after scans revealed a lower back issue.
There is a track record of back injuries, with flare-ups in several earlier campaigns forcing him out of several home seasons in four years.
He emphasized he would be ""aggressive" and "take risks" in his comeback strategy to ensure his availability for the contest.
The selector indicated that he did not know if he had started his bowling workouts as part of his rehabilitation but acknowledged it was "getting tight" for him to be fit for the opener.
Alternative Arrangements
Should Cummins not be fit, ex-skipper Smith will lead the side.
Versatile player Green was withdrawn recently from the national team for their ODI contests against India as a precautionary measure because of an abdominal issue.
The selector characterized it as a "slight concern and confirmed that he's scheduled to appear in the domestic first-class competition, so will be "in a good place to resume bowling."
"Extensive planning has gone into creating the schedule for him to take part for the initial game as an dual-role player," Bailey explained.
"He was only going to play the starting games anyway. How he handles the willow in shorter formats, should it hinder progress for another day, we opted to take a cautious route."
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