You can add the HSQLDB as a depedendecy to your project in your pom.xml file. Then FAB should install it automatic and have it included in the classpath space.
If you want to pre-install it, or use a shared bundle, then you can define the scope as
<scope>provided</scope>
Then FAB will use the shared bundle. You can read about this here: http://fuse.fusesource.org/bundle/overview.html
There is also a new SQL example with the upcoming Camel 2.11 at: http://camel.apache.org/sql-example.html. It works in OSGi as well, as we have a features.xml file included in the example at: https://svn.apache.org/repos/asf/camel/trunk/examples/camel-example-sql/
Though we had to add dynamic import in the felix-bundle-plugin due the usual OSGi pain :(